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Nov 26, 2012
11/12
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we should have a cap of $25,000 cap on abductions and marginal tax rate go up. do you think the president will hold out for that? >> harry reid this afternoon was adamant, hope the house republicans are listening. the president has spoken. mitch mcconnell said we needed to tone down the reckless voices of the left. that will be the problem. these sites are no further along than they were in march when ben bernanke declare the term fiscal cliff on capitol hill. as to the specifics nobody really knows. there was a proposal about the estate tax for the chairman of the finance committee in the senate, nobody really knows. we will have a million of these ideas between now and the christmas eve or new year's eve. david: will tim geithner lead the negotiations? >> tim geithner is in charge, but at the very top level. david: thank you very much. good to see you. back to you. liz: next we take you into the future find out the news moving the market tomorrow. plus, 12 drummers drumming, what will that run you? you don't want to know. wait until you hear how much all 12 da
we should have a cap of $25,000 cap on abductions and marginal tax rate go up. do you think the president will hold out for that? >> harry reid this afternoon was adamant, hope the house republicans are listening. the president has spoken. mitch mcconnell said we needed to tone down the reckless voices of the left. that will be the problem. these sites are no further along than they were in march when ben bernanke declare the term fiscal cliff on capitol hill. as to the specifics nobody...
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Nov 28, 2012
11/12
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FBC
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in the meantime the president keeping up the pressure on republicans from here to extend expiring tax cuts for middle-class taxpayers, but let them expire for wealthier taxpayers. take a listen. >> the place where we already have and three complete agreement right now is on middle-class taxes. as i have said before, we have two choices. if congress does nothing, every family in america will see the taxes automatically go up the beginning of next year. >> as we have been reporting all day, the president set to meet with a bunch of ceos of major corporate leaders here that will probably start wondering about 90 minutes to get underway around 4:45 here at the white house, 14 of them showing up including the ceo of yahoo, merck, coca-cola, at&t and lloyd glenn fine of goldman sachs will be here as well. liz: in the end big multinationals, to be fascinating to hear they feel positive. i want to know the business leaders think. thank you so much. as congress and the president do their very slow discussion dance on this governors are sprinting around trying to prepare for enough ability that
in the meantime the president keeping up the pressure on republicans from here to extend expiring tax cuts for middle-class taxpayers, but let them expire for wealthier taxpayers. take a listen. >> the place where we already have and three complete agreement right now is on middle-class taxes. as i have said before, we have two choices. if congress does nothing, every family in america will see the taxes automatically go up the beginning of next year. >> as we have been reporting...
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Nov 27, 2012
11/12
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FBC
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taxed, you are still way ahead of the game. i think it is a lot of noise about nothing. liz: elliot, what kind of noise are you hearing down at the nymex? i mean once again we are hovering around $87 a barrel. natural gas took a bit hit yesterday, up a tiny bit today. elliot? can we hear him? we don't have his microphone. bummer. but you know what he would say? my guess is as good as yours, liz. thank you very much, guys. elliot we will get you next time. sorry about that. look at him. he's all bummed out. it happens. the hamster falls off the treadmill. thanks guys. chief investment strategist at morgan stanley, one of the most respected chief investment strategists says there are three ps that every investor needs to have on their radar. you moved some of your money out of cash and bond funds into what? >> we put money into european stocks liz and we put some money into high quality large cap u.s. growth companies. >> why europe? >> number one, we think the valuations are at historic lows versus the u.s. and versus long-term
taxed, you are still way ahead of the game. i think it is a lot of noise about nothing. liz: elliot, what kind of noise are you hearing down at the nymex? i mean once again we are hovering around $87 a barrel. natural gas took a bit hit yesterday, up a tiny bit today. elliot? can we hear him? we don't have his microphone. bummer. but you know what he would say? my guess is as good as yours, liz. thank you very much, guys. elliot we will get you next time. sorry about that. look at him. he's all...
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Nov 27, 2012
11/12
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they don't want to raise taxes on the wealthiest in this country. this they want to maintain the tax breaks from the bush era for everybody or nobody. here we are. you've identified where your sacred areas are. they've got theirs. that's what i'm asking. where's the middle ground in all of this? >> well, the middle ground is a fair share. by putting the benefit programs on the table, social security, medicare, medicaid, as being the source for the deficit and the only way to reduce that and the only way to balance this, i think is wrong when there is no significant revenue. not just gestures and token appeals about tax deductions and other areas but a significant restructuring of that code to bring us back in line the way that we were under clinton. >> representative, as we're talking, the market is selling off once again. every time members of congress come on -- and i've got to tell you, sir, i think you're contributing to the fears that we're going off the fiscal cliff, because it doesn't sound like there's any compromise in what you're saying. d
they don't want to raise taxes on the wealthiest in this country. this they want to maintain the tax breaks from the bush era for everybody or nobody. here we are. you've identified where your sacred areas are. they've got theirs. that's what i'm asking. where's the middle ground in all of this? >> well, the middle ground is a fair share. by putting the benefit programs on the table, social security, medicare, medicaid, as being the source for the deficit and the only way to reduce that...
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Nov 28, 2012
11/12
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KTVU
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at the end of the year, tax breaks expire and drastic spending cuts are due to take effect. bracing for those higher tax rates possibly coming next year, some corporations are handing out 2012 dividend payments that are looking more like christmas presents. walmart and dillard's are among several companies paying dividends in december instead of in early 2013. currently taxed at 15%, that rate, under automatic fiscal cliff increases, could more than double. many investors believe that no matter how the fiscal cliff situation is resolved, dividend tax rates will likely increase in 2013. jamie dimon is getting public praise from billionaire warren buffett. this week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a trading blunder
at the end of the year, tax breaks expire and drastic spending cuts are due to take effect. bracing for those higher tax rates possibly coming next year, some corporations are handing out 2012 dividend payments that are looking more like christmas presents. walmart and dillard's are among several companies paying dividends in december instead of in early 2013. currently taxed at 15%, that rate, under automatic fiscal cliff increases, could more than double. many investors believe that no matter...
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Nov 25, 2012
11/12
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CSPAN2
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john boehner is trying to work a deal with the president to do tax reform and entitlement reform and his deputy, the majority leader, calls people like paul ryan, who is now running for vice president. .. >> if you keep doing this, you are going to risk your speakership. the president said when i talked to him, interestingly enough, he said in fixing -- he realizes the magnitude of all of this, as does speaker boehner, key democrats, key republicans realize what it is. and the president literally said to me, i would willingly lose an election if i could solve these problems. it is that serious. tim geithner, the treasury secretary, in the book is quoted thousands of words telling the president, you have got to do something about this problem. we have to fix it. you literally, it's not that we're going to close down the government, we will close down the american economy and, in turn, the global economy. if they do not solve the issue of this runaway spending, get some way to stop borrowing in excess, he tells the president of the united states if we default on this, on our obligation
john boehner is trying to work a deal with the president to do tax reform and entitlement reform and his deputy, the majority leader, calls people like paul ryan, who is now running for vice president. .. >> if you keep doing this, you are going to risk your speakership. the president said when i talked to him, interestingly enough, he said in fixing -- he realizes the magnitude of all of this, as does speaker boehner, key democrats, key republicans realize what it is. and the president...
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Nov 29, 2012
11/12
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we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the election is behind us. what should a proper energy policy look like to do everything you're saying, create jobs and, in fact, take advantage of this opportunity that america has. >> i think the energy policy sometimes is made more difficult than it needs to be. to me, there are three things th that you need focus on. do you want affordable energy, do you want secure energy, and the environmental characteristics you want. we talk about those one at a time. we need to talk about those together. >> let me ask you a few questions about from the investment community. i guess the biggest
we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the...
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Nov 27, 2012
11/12
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CNBC
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what the government is going to do taxes, spending, policy? is there an end to it? do you see anything in terms of resolve? >> you have been saying this. it is scary because every month it seems like the markets hang on whether it be european risks or u.s. risks. the one good thing i can say about the market now is if you look at the last five selloffs more than 3% of the s&p over the last two or three years. my risk indicators have been much higher, in other words, systemic risk indicators. the european systemic risk is much lower this time. back in june if you looked at investment grade bonds in europe versus the united states they were massively under performing. financials like the big banks in the united states in june when we were down 10% massively under performing. now the financial, the big banks is holding off quite well. it is a sign of less systemic risks. >> give us what you are telling clients about whether or not a deal is going to be reached and what form of that will be reached. >> i have been on the phone with clients. i would say one kind of inter
what the government is going to do taxes, spending, policy? is there an end to it? do you see anything in terms of resolve? >> you have been saying this. it is scary because every month it seems like the markets hang on whether it be european risks or u.s. risks. the one good thing i can say about the market now is if you look at the last five selloffs more than 3% of the s&p over the last two or three years. my risk indicators have been much higher, in other words, systemic risk...
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Nov 29, 2012
11/12
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FBC
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why don't you be responsible and raise taxes, put your finger prints on a tax increase to pay for our bigger government. republicans said no. harry reid has had a hissy fit for four years now, i'm happy the republicans would not raise taxes to pay for is bigger government. the problem is the american people don't want their taxes raised. lou: what i asked was how you feel? >> i am pleased as punch. harry reid, at haing a hissy fit at me, he's really mad at the ameican people for not wanting to raise axes. he personalizes it with me. lou: what about those folks like senator john mccain, senator lindsay gramm, senator chambliss the list goes on. i mea -- >> it doesn'go on. it does not go on. here's theood news. all the people who last week and said we might raise taxes under certain circumstaes with the same people who said that two years ago. and everyews dia outlet in the country has said the last week, would you like to be famous? would you like to be called important and influential? come to our tv station and announced u areefor tax increases and we will tell everyone you are impor
why don't you be responsible and raise taxes, put your finger prints on a tax increase to pay for our bigger government. republicans said no. harry reid has had a hissy fit for four years now, i'm happy the republicans would not raise taxes to pay for is bigger government. the problem is the american people don't want their taxes raised. lou: what i asked was how you feel? >> i am pleased as punch. harry reid, at haing a hissy fit at me, he's really mad at the ameican people for not...
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Nov 27, 2012
11/12
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he had the right idea in tax cuts or tax revenue increasing and spending cuts. the problem is the president didn't bring that to the floor. it needs to go to the floor in bipartisan position. we lost independent senators like joe lieberman and olympia snowe so who will form the middle? liz: are there certain sectors that will be affects less than others and should people be investing in those. >> both sides need infrastructure spending. both sides need the consumption of at least foods, mcdonald's would probably be a safe investment. caterpillar believe it or not will be safe investment. roads will get repaired one way or the other. we'll just not be able to drive on them. i like large infrastructure play. it is our largest play. obamacare is here to stay so now everybody is adjusting to it. david: we did it reverse order. we put up chart for health care. that is industrial chart that would included cat. >> yes. with obamacare you have the health care companies not looking to save but meet the technology challenges that come with obamacare. so there's lot of opp
he had the right idea in tax cuts or tax revenue increasing and spending cuts. the problem is the president didn't bring that to the floor. it needs to go to the floor in bipartisan position. we lost independent senators like joe lieberman and olympia snowe so who will form the middle? liz: are there certain sectors that will be affects less than others and should people be investing in those. >> both sides need infrastructure spending. both sides need the consumption of at least foods,...
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Nov 28, 2012
11/12
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FOXNEWSW
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you can raise taxes on the rich. what if you gets the revenue fund the government for less than a week. >> people don't realize, in the fight over funding, taxing the rich, it is not going to change our problem, at all. >> it does. it's a short-term, it sounds popular, politically, maybes. but it doesn't solve the problem. the american people want us to solve the problem, that requires presidential leadership. >> one quick question, we have a new member of the south dakota hall of fame, your father. that's some good news. good for your father. >> yeah, it is. he will be 93 next month. he had a great career, high school, college, a three-year starter at the university of min min -- university of minnesota. and a world war ii fighter pilot. he was out here a few years ago. >> that's always fun. we have to end on that good note. thank you. >> now the controversy over the benghazi attack. senate minority whip jon kyl going on the record saying it's a coverup. senator, nice to see you, sir. >> thank you. >> why do you thi
you can raise taxes on the rich. what if you gets the revenue fund the government for less than a week. >> people don't realize, in the fight over funding, taxing the rich, it is not going to change our problem, at all. >> it does. it's a short-term, it sounds popular, politically, maybes. but it doesn't solve the problem. the american people want us to solve the problem, that requires presidential leadership. >> one quick question, we have a new member of the south dakota...
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Nov 27, 2012
11/12
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CNBC
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tax hikes, tax hikes, and tax hikes. one way or another, that's about all i hear on this fiscal cliff business, and you know what? what about spending cuts which is the true source of the deficit problem along with anemic economic growth. and here's one. we just got confirmation that the latest fiscal numbers from the treasury department show the federal government ran up more red ink in october than it did the year before, and guess what? spending went up double digits from the year before. what a surprise. but the white house got one thing right today. it released a study showing that a massive year-end tax hike would kill consumer spending by $200 billion, right. so let's not raise taxes. and in addition to all of this, the joint chiefs of staff is apparently drawing up plans to keep 10,000 u.s. troops in afghanistan past the 2014 deadline. this break a president obama promise, but some promises are made to be broken, and i think this is probably a good move. but first up congress back at work tonight after the holida
tax hikes, tax hikes, and tax hikes. one way or another, that's about all i hear on this fiscal cliff business, and you know what? what about spending cuts which is the true source of the deficit problem along with anemic economic growth. and here's one. we just got confirmation that the latest fiscal numbers from the treasury department show the federal government ran up more red ink in october than it did the year before, and guess what? spending went up double digits from the year before....
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Nov 28, 2012
11/12
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very focused on raising taxes on the rich. if you have a millionaire or billionaire elderly person, and you tell them, guess what, you're going to have to pay more for your health care, that would be like raising their taxes, right? and it would help reduce the problem. but they don't want to talk about that. >> the easiest solution's in front of us. i'm not the expert on medicare or social security. means testing and raising age limits seem to me to be pretty practical solutions as part of the solution, not the total solution, to reducing entitlement spending. >> if you were this the white house today with with the president as many of the nation's leading ceos are, what would be first that you would tell president obama today needs to be dealt with to get through the fiscal cliff? >> wehat we need is a solution that's going to call for sacrifice on the part of all americans. so we're going to have to raise revenue, yes. we're going to have to reduce spending. his own rhetoric, about a three to one, which is in line with the
very focused on raising taxes on the rich. if you have a millionaire or billionaire elderly person, and you tell them, guess what, you're going to have to pay more for your health care, that would be like raising their taxes, right? and it would help reduce the problem. but they don't want to talk about that. >> the easiest solution's in front of us. i'm not the expert on medicare or social security. means testing and raising age limits seem to me to be pretty practical solutions as part...
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Nov 27, 2012
11/12
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FOXNEWSW
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the child tax change, the marriage tax changes. everybody gets hit and hard. the military will get major-league cut, beginning january 2013, it will be the smallest navy since 1915, the smallest air force in the history of the country. so doing nothing is a catastrophe. here's what i think is fair to ask the republicans. we have 15% of gdp in revenue. the historical average is 18% going to the federal government. one way to get more money is cap deductions. if you limit deductions to $50,000 per punish person, to take care of the missed-class person and then some, you could raise $750 billion in new revenue. to do what? to pay down the debt. we need more money to get out of debt. and to lower tax rates for corporate rates and other rates to create more jobs. i am willing to put revenue on the table to pay down debt and create a better economy. but my democratic friends have to reform entitlements. what will make us grief is not raising taxes or medicare or social security n. 30 years, medicare and medicaid alone will consume all the revenue coming in taxes. th
the child tax change, the marriage tax changes. everybody gets hit and hard. the military will get major-league cut, beginning january 2013, it will be the smallest navy since 1915, the smallest air force in the history of the country. so doing nothing is a catastrophe. here's what i think is fair to ask the republicans. we have 15% of gdp in revenue. the historical average is 18% going to the federal government. one way to get more money is cap deductions. if you limit deductions to $50,000...
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Nov 27, 2012
11/12
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you shouldn't spend more than comes in, and under lower taxes, not raise the taxes. if you want to stimulate the economy, i want to lower taxes, because that's how we get actually more economic growth and maybe more revenue, if you cut tax rates. >> greta: only a month past the election, but we're sort of curious. are you considering or would you think of running for president? >> it's too early to tell. we've got a lot of things we have to do in the next couple of years. i still want to try to fix some of the programs we have. i'd like to save social security by reforming it. same with medicare. i have bills that do both. i think we as republicans have to start talking bases a party become a bigger party. we have to acing tract more people. we have a lot of work to do in the african american community, a lot of work to do in the hispanic community. i will talk about these things. i want to be part of the national debate. you know, i've said i don't deny that i'm interested in maybe running for president, but it's way too early to make a firm commitment on whether i
you shouldn't spend more than comes in, and under lower taxes, not raise the taxes. if you want to stimulate the economy, i want to lower taxes, because that's how we get actually more economic growth and maybe more revenue, if you cut tax rates. >> greta: only a month past the election, but we're sort of curious. are you considering or would you think of running for president? >> it's too early to tell. we've got a lot of things we have to do in the next couple of years. i still...
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Nov 27, 2012
11/12
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FOXNEWSW
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they want bigger taxes, bigger government. for example, take a look. >> if despite the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession. >> sean: republicans hate big beared and santa claus. don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins thi
they want bigger taxes, bigger government. for example, take a look. >> if despite the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will...
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Nov 29, 2012
11/12
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CNBC
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taxes will go higher. you're also talking about the possibility of a much slower economy. and how does that impact earnings in 2013? let's say hypothetically we go off the fiscal cliff because clearly both sides are digging in. here we are at the edge once again like last summer. we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would contend that the market has probably already factored most of that in. when you can buy a number of stocks -- in the hodges small cap fund, we have a number of stocks trading below their growth rate. that's telling you that the market is not expecting good growth. when you can buy stocks that are growing at 20% a year at ten times earnings, that's a good valuation. there are a number of those situations there that we're seeing left and right. >> got to go, guys. >> okay. >> sorry, jeff. you know how that works. you guys on t
taxes will go higher. you're also talking about the possibility of a much slower economy. and how does that impact earnings in 2013? let's say hypothetically we go off the fiscal cliff because clearly both sides are digging in. here we are at the edge once again like last summer. we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would...
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Nov 25, 2012
11/12
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CNNW
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the reason is the country -- the government is on automatic pilot to the fiscal cliff, to massive tax increases and really horrible spending cuts on january 1st unless we act, so if congress does nothing, which congress has gotten pretty good at doing these days, we'll go over the fiscal cliff, so there's work to be done and compromises to be reached. >>> next, an interesting take on the fbi investigation that ensnared general david petraeus. >> i got to say, what surprises me is these people are still sending emails. there is no relief for the brakes. we'll put them to the test today. all right, let's move out! [ ross ] we're pushing the ats brakes to the limit. going as fast as we can down the hill. we are making these sharp turns, slamming on the brembo brakes. [ derek ] it's like instant response, incredibly consistent. this is the challenge, machine vs. mountain. [ male announcer ] the all-new cadillac ats. do you really think brushing is enough to keep it clean? while brushing misses germs in 75% of your mouth, listerine® cleans virtually your entire mouth. so take your oral he
the reason is the country -- the government is on automatic pilot to the fiscal cliff, to massive tax increases and really horrible spending cuts on january 1st unless we act, so if congress does nothing, which congress has gotten pretty good at doing these days, we'll go over the fiscal cliff, so there's work to be done and compromises to be reached. >>> next, an interesting take on the fbi investigation that ensnared general david petraeus. >> i got to say, what surprises me is...
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Nov 28, 2012
11/12
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FOXNEWSW
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the problem isn't that we tax too little, we spend too much. >> greta: the democrats wanted the taxes to go on the rich, those over $250,000, and we still have the structural problem in that it doesn't solve the problems. it solves the problems for eight or nine days. do they say anything about that? >> no. if you raise taxes, they think you'll get more revenue, $68 billion, which actually funds the government for less than a week, but you give all that revenue back in the form of lower economic growth. i mean, you're going to lose growth in the economy. that's what generates more government revenue, is more economic growth. >> greta: even if you give them that money, still you only fund eight days. if you let them tax the rich, you still only have eight days, still have the same infrastructure and same sort of economic structure of our country unless we do something about it, we're cooked. >> right. we can't -- republicans cannot be for anything that doesn't involve entitlements. you've got to reform entitlement programs. that's got to be on the table. so far the president has been u
the problem isn't that we tax too little, we spend too much. >> greta: the democrats wanted the taxes to go on the rich, those over $250,000, and we still have the structural problem in that it doesn't solve the problems. it solves the problems for eight or nine days. do they say anything about that? >> no. if you raise taxes, they think you'll get more revenue, $68 billion, which actually funds the government for less than a week, but you give all that revenue back in the form of...
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Nov 28, 2012
11/12
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tax cuts for the middle class. tonight chris van hollen and jan schakowsky and the latest on the fiscal cliff. >>> the meeting with the president looks good for progressives. we'll get the scoop from james hoffa. >>> plus breaking news. republicans running the benghazi witch hunt remain disturbed and troubles. >> i'm more disturbed and significantly troubled. >> i'm more troubled. >> joan walsh on today's big meeting with susan rice. >>> and yesterday ricks rolled fox news. >> i think that the emphasis on benghazi has been extremely political because fox was operating as a wing of the republican party. >> today fox news strikes back. >>> good to have you with us tonight, folks. thanks for watching. the white house is keeping republicans in a box. president obama is hitting the road to push the extension of tax cuts for income, for folks under $250,000 a year. the president will kick off his tour in southeastern pennsylvania on friday. today he met with small business owners at the white house and tomorrow he plans
tax cuts for the middle class. tonight chris van hollen and jan schakowsky and the latest on the fiscal cliff. >>> the meeting with the president looks good for progressives. we'll get the scoop from james hoffa. >>> plus breaking news. republicans running the benghazi witch hunt remain disturbed and troubles. >> i'm more disturbed and significantly troubled. >> i'm more troubled. >> joan walsh on today's big meeting with susan rice. >>> and...
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Nov 27, 2012
11/12
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CURRENT
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i noticed mitch mcconnell's talked about tax rates. he's going to insist that tax rates not go any higher. you've got the mathematicians trying to raise the numbers. you can exact the rate throughout a person's entire income. they're looking for ways to finagle this. republicans are going to have to retreat and they're going to get a better deal before the end of the year than going into the new year. >> i want to ask you about that, what eleanor said about the end of the year rather than going into the new year. who benefits, if anyone, if they kick the can down the road, get a new congress. isn't there something to be said with this new democratic strength coming into the senate? it's a little stronger there. you have a stronger president picked up a few seats in the house. doesn't kicking the can down until february or march and do something that's maybe a bandaid now help the cost. >> it helps to a certain extent, but doesn't help the republican party all that much, because again, they're going to be blamed if we get a short-term d
i noticed mitch mcconnell's talked about tax rates. he's going to insist that tax rates not go any higher. you've got the mathematicians trying to raise the numbers. you can exact the rate throughout a person's entire income. they're looking for ways to finagle this. republicans are going to have to retreat and they're going to get a better deal before the end of the year than going into the new year. >> i want to ask you about that, what eleanor said about the end of the year rather than...
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Nov 28, 2012
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rates where they are, not letting the lower tax rates reset. that's real money in terms ofi don't know that it's going to win the day, but i really would like to hear republicans kind of argue why they are not agreeing on this part of the deal. i think that would push things forward. >> on the 98%? >> yeah. the 98% anytime, at the end that's the worst-case scenario, that republicans cave to the president's demand, because he's not asking for any more on that. so why give it -- why give that up now? >> just because they both agree on that. >> well, they don't -- >> they agree on that. >> why are democrats so afraid of going back to the clinton tax rates? that's a great question. wasn't that the source of prosperity in the '90s? >> i liked that tax structure. >> i know you do, jared. >> i'm just saying that's something they agree on. >> here's the deal. what you saw today was really show business on the case of the white house with an audience behind him. the president did not talk about entitlements, anything he would give on, really zero change
rates where they are, not letting the lower tax rates reset. that's real money in terms ofi don't know that it's going to win the day, but i really would like to hear republicans kind of argue why they are not agreeing on this part of the deal. i think that would push things forward. >> on the 98%? >> yeah. the 98% anytime, at the end that's the worst-case scenario, that republicans cave to the president's demand, because he's not asking for any more on that. so why give it -- why...
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Nov 28, 2012
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they are the low-tax party. the other guys want to tax. to match reckless spending. i understand why democrats are doing this. they manual that the republicans have no bargaining power today. i say it's true if republicans resist, they will take the blame. that will help the democrats in the congress. but obama is never running again. he doesn't care who gets the blame. he is going to be the president. she a lame duck. he wants the term. if it starts by going over the cliff it starts with a second recession. 2 million unemployed and wrecked second term. that is the leverage that republicans have over obama. it's utterly unacceptable. >> bret: to kirsten's point, some republicans are talking about raising the age of medicare, means testing. put a lot of ideas out there. nothing on paper. they are not hammering it out, it doesn't seem, behind closed doors unless we don't know it's going on, steve. >> no, it's not. >> bret: let me play this thing, this sound bite. yesterday we put in a piece. i want to play more of it. this is a question and answer by senator reid about
they are the low-tax party. the other guys want to tax. to match reckless spending. i understand why democrats are doing this. they manual that the republicans have no bargaining power today. i say it's true if republicans resist, they will take the blame. that will help the democrats in the congress. but obama is never running again. he doesn't care who gets the blame. he is going to be the president. she a lame duck. he wants the term. if it starts by going over the cliff it starts with a...
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Nov 27, 2012
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that's forced upon him by the expiration of those tax cuts at the end of the year. but it seems to be embraced as what he wants to work on. president obama is not arguing for that tax cut expiration date to be extended, to be put off for awhile, to work on something else in the meantime. he seems to want this fight. not only talking about this reminding everybody that it is what he campaigned on when he won reelection. "the new york times" is he's employing the support information data base he built during his campaign toward trying to win that policy fight. and again, in addition to that, there's the breaking news of the president seeming to be lining his ducks in a row for nominating susan rice for secretary of state. the potential nominee taking meetings with the senate foreign relations committee, including john mccain, tomorrow morning. she will be taking that meeting alongside the acting director of the cia. in addition to this fight over the tax cuts, the president is not shying away from the secretary of state fight either. we know what he's being pressured
that's forced upon him by the expiration of those tax cuts at the end of the year. but it seems to be embraced as what he wants to work on. president obama is not arguing for that tax cut expiration date to be extended, to be put off for awhile, to work on something else in the meantime. he seems to want this fight. not only talking about this reminding everybody that it is what he campaigned on when he won reelection. "the new york times" is he's employing the support information...
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Nov 26, 2012
11/12
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reform and spending cuts over the raising of taxes. here is the senate republican leader on what the g.o.p. is offering. >> without compromising our principles we put skin in the game and recognition to the fact while democrats don't run this town, neither do we. we have been responsible even as we remain firm on this point. no tax increases now for promised spending cuts that you will not materialize later. the american people have seen that game before. they won't be fooled again. >> house republicans are planning to bring in on wednesday a number of c.e.o.'s of caterpillar, goldman sachs and all state and other key players on fiscal includes including erskine bowles co-author of the simpson-bowles and the republicans want the business community to hear their ideas and make the case a big deal should include spending cuts and reforms. >>shepard: thank you, mike, from capitol hill. grover norquist will join neil cavuto next hour and talk about breaking the anti-tax pledge by some republicans. >> the generation leader who brokered the
reform and spending cuts over the raising of taxes. here is the senate republican leader on what the g.o.p. is offering. >> without compromising our principles we put skin in the game and recognition to the fact while democrats don't run this town, neither do we. we have been responsible even as we remain firm on this point. no tax increases now for promised spending cuts that you will not materialize later. the american people have seen that game before. they won't be fooled again....
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Nov 27, 2012
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he created 10% tax rate and took lower income people off the tax roles. because of it, the rich are making more and paying more in taxes. before reagan took office. the bottom 50 paid 7%. the top 50 paid 90. now the top 50 pay 98%. the bottom 50 only pay two. >> bob: what do the top 5% pay? >> andrea: over 80%. 90%? >> bob: are you not embarrassed defend this? >> dana: embarrassed that the policy is so bad and you defend it and you act it will be a great savior and you know it's not. >> bob: i'm getting rap for people making half a billion snore if you do, what president obama is suggesting, raise taxes on the 250 and above you come up with 82 to $83 billion. >> bob: take in account the spending cuts that come in to that. >> dana: what spending cuts? show us. i would love to see any spending cuts. i'll believe it when i see it. >> brian: i think we have to give credit to producers of this world and not vilify them. we have to do what will allow them to grow the economy. to hire more people. >> eric: online for this -- >> brian: leave it there. >> eric: co
he created 10% tax rate and took lower income people off the tax roles. because of it, the rich are making more and paying more in taxes. before reagan took office. the bottom 50 paid 7%. the top 50 paid 90. now the top 50 pay 98%. the bottom 50 only pay two. >> bob: what do the top 5% pay? >> andrea: over 80%. 90%? >> bob: are you not embarrassed defend this? >> dana: embarrassed that the policy is so bad and you defend it and you act it will be a great savior and you...
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Nov 25, 2012
11/12
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the reason is the country -- the government is on automatic pilot to the fiscal cliff, to massive tax increases and really horrible spending cuts on january 1st unless we act, so if congress does -- congress has gotten pretty good at doing these days, we'll go over the fiscal cliff, so there's work to be done and compromises to be reached. >> next, an interesting take on the fbi investigation that ensnared general david petraeus. >> i got to say, what spies surprises me is these people are still sending emails. i don't spend money on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than yo
the reason is the country -- the government is on automatic pilot to the fiscal cliff, to massive tax increases and really horrible spending cuts on january 1st unless we act, so if congress does -- congress has gotten pretty good at doing these days, we'll go over the fiscal cliff, so there's work to be done and compromises to be reached. >> next, an interesting take on the fbi investigation that ensnared general david petraeus. >> i got to say, what spies surprises me is these...
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Nov 22, 2012
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these are people who pay no income tax, 47% of americans pay no income tax. so my job is not to worry about those people. >> mitt romney's famous comments on the 47% raise two questions. how can he say that? how can he say a single mom working two yobs and taking advantage of the child tax credit and a senior that worked all of his life and enjoying the years of his life that he paid into how can he say they refuse to take responsibility for their lives? the other question was what the hell did he mean? romney said the 47% likely to vote for obama were the same 47% who didn't pay federal income taxes and are the same 47% who are dependent on government? that's not even a little bit true, not a little. a lot of the folks who don't pay federal income taxes are seniors, the most republican leaning age group in the country and there is no 47% in the country that refuses to take responsibility for their lives. they just don't exist. romney wasn't all wrong. the number 47% really did hold the key to this election. it was not the number of people who vote for obama.
these are people who pay no income tax, 47% of americans pay no income tax. so my job is not to worry about those people. >> mitt romney's famous comments on the 47% raise two questions. how can he say that? how can he say a single mom working two yobs and taking advantage of the child tax credit and a senior that worked all of his life and enjoying the years of his life that he paid into how can he say they refuse to take responsibility for their lives? the other question was what the...
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Nov 26, 2012
11/12
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what's the one tax rate going up january 1st that no one's talking about? the payroll tax. remember that? it was cut from 12 to 10%. i gather the republicans have no problem -- i don't know -- but letting working class and middle class americans have a 2% tax increase. that's not currently the republican position that the payroll tax cut should be extended. they're happy to let it go because god forbid they cut entitlements for wealthy seniors. we have a collusion among the elites of both parties. the one tax that goes up january 1, if there's a deal s payroll tax, which i think is wrong. republicans have a opportunity to be champions of the working class. >> kirsten, some democrats are saying let's go over the cliff. everybody's tax rates are going to go up and then the president in january can go to congress and say now it's 39.6% and whatever it is for middle class and i'll present a plan that will cut the tax rates of 98% of people, are you prepared now, when the rate is already up, to oppose that? >> the problem with that plan is it's dangerous because we don't know ho
what's the one tax rate going up january 1st that no one's talking about? the payroll tax. remember that? it was cut from 12 to 10%. i gather the republicans have no problem -- i don't know -- but letting working class and middle class americans have a 2% tax increase. that's not currently the republican position that the payroll tax cut should be extended. they're happy to let it go because god forbid they cut entitlements for wealthy seniors. we have a collusion among the elites of both...
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Nov 28, 2012
11/12
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why tax device manufacturers as if they are taxing alcohol or cigarettes. that is what it is and excise tax on sales. ge healthcare, santa fe, the tax rate that these guys face, pacemakers, devices for brain surgery, prosthetics for returning soldiers, get this, 80%. state, local, federal. [talking over each other] dennis: that is one of the few major manufacturing hedges we have for medical equipment. r and d getting outsourced to other countries right now. cheryl: what you think this will do to the industry overall? let's not make this stuff in the united states, let's maybe go to israel. israel has a very strong and nicole industry. they may actually move ahead of the united states. >> these letter writers are saying, look, we are already pulling back on our end the year in the united states. nationally, that would affect job growth here. cheryl: you have stocks now, of course, every 15 minutes. nicole: we are setting new session highs. take a look at the dow jones industrials. we are up about 15 points right now. american express turning into the green
why tax device manufacturers as if they are taxing alcohol or cigarettes. that is what it is and excise tax on sales. ge healthcare, santa fe, the tax rate that these guys face, pacemakers, devices for brain surgery, prosthetics for returning soldiers, get this, 80%. state, local, federal. [talking over each other] dennis: that is one of the few major manufacturing hedges we have for medical equipment. r and d getting outsourced to other countries right now. cheryl: what you think this will do...
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Nov 28, 2012
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is the prime minister guilty of tax of points for tax evasion? >> $900 million into specific majors of tax avoidance. all these schemes grew up under years of labour government. they never did a general tax avoidance. they presided over a system where people in the city were paying less taxes than their cleaners and the government has sorted out. >> not to be remembered as the prime minister introduced regulation of the press, an essential part of a free democracy. would you agree with me that regulation derives -- you are pregnant or not pregnant. you either have state regulation or you don't. there is no alternative third way. >> i would agree with my hon. friend. is it a free press? absolutely vital for free democracy? we should recognize all the press has done and should continue to do to uncover wrongdoing, stand up to the powerful. whatever changes we make we want a robust and free press in our country. >> research by the charity save the children, reveals shockingly that in our country when seven children does not have a warm coat this win
is the prime minister guilty of tax of points for tax evasion? >> $900 million into specific majors of tax avoidance. all these schemes grew up under years of labour government. they never did a general tax avoidance. they presided over a system where people in the city were paying less taxes than their cleaners and the government has sorted out. >> not to be remembered as the prime minister introduced regulation of the press, an essential part of a free democracy. would you agree...
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by entities real-estate taxes and income taxes? you are buying into that? sandra: i have to believe in it. property taxes are very high but illinois is better off than a lot of the other 11 states mentioned in this forum to write a. there are 105 acres in illinois for every 100 givers and as many other states that are far worse off, where are you going to go? i choose to believe in my own state. texas is far better off. what you going to do in texas? work in the oil industry? you have proximity to your job. stuart: i couldn't do this show from texas. sandra: i am not willing to give up that quickly. stuart: get your views later. we will hear from you later. charles: whatever steve said. stuart: a moment ago with you heard my take on the california so-called come back, now we are going to hear from california's own mike reagan from reagan.com. welcome back. headline in the new york times you know what i'm talking about. california finds economic gloom starting to lift and the premise of their argument is those tax increases will produce a budget surplus in c
by entities real-estate taxes and income taxes? you are buying into that? sandra: i have to believe in it. property taxes are very high but illinois is better off than a lot of the other 11 states mentioned in this forum to write a. there are 105 acres in illinois for every 100 givers and as many other states that are far worse off, where are you going to go? i choose to believe in my own state. texas is far better off. what you going to do in texas? work in the oil industry? you have proximity...
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Nov 26, 2012
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when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just taken them to cleaners. we are going to debate this tonight. you can watch other choices. but you can still watch him and watch me. i am a nice appetizer then. that's how i look at it. appetizer. if you did online shopping i'd be a good buy. you know a lot about the cyber bye. >> demand it! >> no. >> you were shopping. >> i was not. not doing anything. >> you were. >> was not. >> that is a laptop.
when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just...
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Nov 29, 2012
11/12
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FBC
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if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this cliff in the back half of 13, gdp growth rate accelerates as we anticipate and profit growth as well. tracy: if your liking big multinationals, you don't like europe yet you like the multinationals. help me wrap my mind around that. >> u.s. large caps are cheap, most of those in mall to nationals. but they don't deserve to be cheap. it is going to be a while before you get any sustained growth. you can't make that case the multinationals. it is relatively speaking a small part. the big part of the global exposure is the emerging markets. tracy: you obviously are very bullish equity sky. you have to be
if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this...
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Nov 28, 2012
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his tax cuts were far bigger than his tax increases. and the so-called amnesty in the time of the cold war. a lot of people were fleeing communism in nicaragua and in cuba and even then extremely strict regulations for gaining american citizenship. >> i guess the question i have, and you talk about conservatism, the basis of it, part of it is to be inflexible. >> and that's fine. but i think you wrote at one time, one of the marks of conservatism, these principles, and you have to be inflexible about it. when does pragmatism come in. i'm at 70%? >> i suppose at a time of national crisis and a time of war, doing world war ii we have to set aside certain things. we are not in that situation. these are relatively small problems. the problem with the republican party, as i said before, it's not making the case of its principles which is about less government and more freedom. you see nothing coming from the republican -- >> romney's entire message in the last three months of the campaign. now we could argue that he didn't do a good job the
his tax cuts were far bigger than his tax increases. and the so-called amnesty in the time of the cold war. a lot of people were fleeing communism in nicaragua and in cuba and even then extremely strict regulations for gaining american citizenship. >> i guess the question i have, and you talk about conservatism, the basis of it, part of it is to be inflexible. >> and that's fine. but i think you wrote at one time, one of the marks of conservatism, these principles, and you have to...
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Nov 29, 2012
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tax dollars, tax dollars, tax dollars, are being spent on facelifts and liposuction for teachers. the total bill this past year, ready for this? $2.7 million. now that is down from the year before, which was $5.2 million. how does this happen? well, it turns outs the perk is included as a ride he were in the teachers' contract, and that's raising big questions about unions and collective bargaining. we're back with our political panel. this is byron york's favorite story of the night. byron? >> this story blew my mind. it goes back to a contract that was ratified in the 1970s, when unions were getting about everything they wanted. the schools were giving unions everything they wanted. and plastic surgery was not as common at the time. what's happened is, it stayed in the contract, and teachers began, and employees began, using it more. now they haven't had a new contract since 2004, but there's in new york state law that allows unions to keep going with the contract that's -- even if it's expired, so there's no incentive for anybody to negotiate a new one. so the union gets perks
tax dollars, tax dollars, tax dollars, are being spent on facelifts and liposuction for teachers. the total bill this past year, ready for this? $2.7 million. now that is down from the year before, which was $5.2 million. how does this happen? well, it turns outs the perk is included as a ride he were in the teachers' contract, and that's raising big questions about unions and collective bargaining. we're back with our political panel. this is byron york's favorite story of the night. byron?...
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Nov 28, 2012
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we know an increase in the marginal tax rates, that's a tax increase. but what about capping deductions? from your standpoint of the pledge, would that be considered a violation of the pledge to cap deductions, as some republican lawmakers are now suggesting? >> this is not a trick question. the pledge says no raising rates, no broadening the base unless rates come down dollar for dollar. the pledge is only two sentences but they are very clear. one of the reasons why eliminating deductions and credits, obama wants a trillion plus dollars worth of tax increase that way, is that if you do that, you've just got a tax reform for decades to come, because how do you reduce marginal tax rates so we can become competitive in the world on the corporate and the individual side, if you have already given away to the appropriators and spenders all the deductions and credits. >> one final question, grover. it seems some liberals out there want to make this personal. more and more about you, about your role in encouraging these republicans by and large to support th
we know an increase in the marginal tax rates, that's a tax increase. but what about capping deductions? from your standpoint of the pledge, would that be considered a violation of the pledge to cap deductions, as some republican lawmakers are now suggesting? >> this is not a trick question. the pledge says no raising rates, no broadening the base unless rates come down dollar for dollar. the pledge is only two sentences but they are very clear. one of the reasons why eliminating...
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Nov 29, 2012
11/12
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the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless benefits plans. this one will be the kicker, i think, to any deal that might or might not get hashed out on capitol hill. "the wall street journal" reporting that republican aides are saying that the white house would like to see at least $50 billion in new spending to spur the economy. so in a debate we're seeing over spending cuts, "the wall street journal" now reporting at the top of this hour that the white house would like to see $50 billion in new spending. that's a new one. that might figure into a little bit of the rankor we saw on capitol hill. it goes against what harry reid told me today. i asked the democratic leader in the senate whether or not geithner had made a specific new offer today. he told me no, no new offer from geithner today. he said that the president had made the democrats' offer two weeks ago. clearly, the details in here are not going to
the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless benefits plans. this one will be the kicker, i think, to any deal that might or might not get hashed out on capitol hill. "the wall street journal" reporting that republican aides are saying that the white house would like to see at least $50 billion in new spending to spur the economy. so...
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Nov 26, 2012
11/12
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between the expiration of the bush tax cuts and higher taxes, for obamacare, the top capital gains rate will jump from 15% to 23.8, and listen to this: the top rate on dividends will jump from 15% to 43.4. how are, mr. sweeney, investors reacting to those possible, very stiff tax hikes? >> well, to that point, you want some clarity and whether the clarity comes in your personal economy at home, whether, you are a ceo or cfo of a corporation you want clarity how to spend the cash you have accumulated on your balance sheet or, if you are the government you want to figure out how to impact the spending you have at the federal level as well. americans are looking for clarity, so they can make the decisions, and, in terms of purchasing short-term christmas gifts for the next selling season or whether, again, if you are a ceo and trying to think of investing in a plant or hiring new people -- >> if i may, sir, specifically, if you have a stock and you see your capital gains, if you sell the stock, could go from 15% to 24%, at the -- on january 1st, are some people cashing out now? >> well, wh
between the expiration of the bush tax cuts and higher taxes, for obamacare, the top capital gains rate will jump from 15% to 23.8, and listen to this: the top rate on dividends will jump from 15% to 43.4. how are, mr. sweeney, investors reacting to those possible, very stiff tax hikes? >> well, to that point, you want some clarity and whether the clarity comes in your personal economy at home, whether, you are a ceo or cfo of a corporation you want clarity how to spend the cash you have...